Gecas Haults Financing For Regional Jets

[Bradly71]

If people keep companies honest then pelase explain the following:

Enron, WorldCom, Adelphia and Mr Milken.

And I guess you have forgetten the employees of this company have given back 20,000 jobs and over $2.4 Billion in wages and benefits since 2002.

Even gave concessions in 1992.

Selective Memory?

[post="181437"][/post]​

Great comeback.. thanks again for the amusment. I was there in 1992 and gave back, I gave all in 2002 when I was "laid off", so no - I have not forgotten. Gee.. how noble that sounds. A union could not have saved the companies you mention, so don't even try that. Enron, Worldcom, Adelphia - none of those were union companies. There are always going to be examples of "bad people", that's human nature. You, however, seem to think as if there are no "bad people" in the unions and they are your savior. I'd love to hear how they are going to save you. I'm guessing your ... never mind, keep politics and attacks out of it. However, I'm bored today.. please make me laugh again

 

[700UW]

Why do you choose to ignore the question?

Please explain how people kept Adelphia, WorldCom, Enron and Tyco honest?

See you can't.

 

[ITRADE]

Yawn.

 

[USAirBoyA330]

Uhhhhhg.....some people must post just to hear themselves talk. It gets really OLD. :huh:

 

[ITRADE]

Makes you wonder if certain folk's spouses are getting any these days - and from whom.

 

[Air conditioned]

That is why you will see Management impose lower wages, on a temporary basis, sometime within the next week. Those wages must be in place by Sept 30 for the ATSB review and the review by GE and Enbraer.

[post="181087"][/post]​

hadEnuff,
Any word on whether or not this is being put in place?
Does the judge do this or does the company? I apologize for my ignorance when it comes to how things operate under chapter 11. How would this unfold?

 

[WorldTraveler]

Nice post, NYC. Although I suspected much of the differences between PI and US (Allegheny), you confirmed it. It is also significant that other carriers like AA, CO, and DL along w/ several LCCs have returned to (or never left) many employment policies similar to what PI did. Althugh unions will not like it, the reality is that there are lots of people that can do high quality work, provide good service, and are willing to work part-time for a limited period of time for a number of jobs such as airport customer service and reservations with even the prospect of some pass benefits. Further, there are no shortage of companies that can very cost effectively provide quality aircraft cleaning and even below wing aircraft servicing, esp. in smaller stations, without the public ever knowing they are dealing with non-airline employees.
There are few companies or organizations that can justify a "one size fits all" mentality to employee costs; even public schools use many non-certified teachers to assist with support functions and provide classroom assistance. Not everyone can or should be a full-time employee on the highest scale in a company or organization.

 

[Dont call me Shirley]

Ah, the spin machine at work....

"accept LCC type contracts" - if the company offered one, it would probably go over reasonably well, as concessions go. But they haven't and here we are.

"US Airways must be competitive across-the-board" - and therein lies the problem. If our non-labor costs were as close to the LCC's as our labor costs are, we'd be making money hand over fist. But "competitive across-the-board" seems to mean lowering labor costs across-the-board enough to offset those very high non-labor costs.

[post="181033"][/post]​

You have again made some very astute observations!!!

 

[jimntx]

hadEnuff,
Any word on whether or not this is being put in place?
Does the judge do this or does the company? I apologize for my ignorance when it comes to how things operate under chapter 11. How would this unfold?

[post="181456"][/post]​

AC, others have posted that the company intends to file an 1113E next Monday, the 20th. This is an "emergency" 1113--shorthand for contract abrogation--which is temporary in nature. Basically, it says the company needs immediate relief from pay rates or work rules or both in order to keep flying. The judge will grant the 1113E or not. The 1113E does not contain specifics of the cuts, as I understand it. It's basically a yes-no decision for the judge. He doesn't impose anything. If he grants the company's request, the COMPANY will impose new pay rates and work rules.

For permanent relief, the company would still have to file an 1113 to formally and permanently void the existing contracts. However, (and I'm not sure about the order of events here), the company must show that it has bargained in good faith with whatever union whose contract they want to void and the union has rejected concessions without good reason. (You can thank Frank Lorenzo and his rape of Eastern's unions for this piece of the law.) I don't know whether the company negotiates and then files the 1113 as a last resort, or files the 1113 then enters the negotiating phase (which I think is limited to 60 days).

 

[usfliboi]

700 Wrong again!Your mincing words to fit your needs. Read my statement again. There are many more things in employee cost than rates , my mech friend. Rates are just one of many. It is a fact we were one of the highest paid employee groups in the industry at that time and even longer. NOT JUST PAY RATES! Read before you STRIKE! This is starting to become a pattern here! HMMM

 

[usfliboi]

BUSDRIVER! BINGO!!!!!!!!!!!!!!!

 

[funguy2]

great post nycbusdriver... gives those of us on the outside who suspected such things some meat to the arguments...

 

[usjacket]

It was a stupid plan anyway! You do not see Southwest going to regional jets! Siegel did not have a clue :angry: :angry: :angry: :angry: :angry: !

 

[700UW]

Jimtx,

When the company files the 1113E it has to contain what provisions they intend to enact.

IE UAL M&R UAL filed for a 13% paycut and that was enacted.

It does not give the company carte blanche, everything must be filed intthe motion.

 

[jimntx]

Ok. I misunderstood. However, I still don't think that it is a "wish list" where the judge might say, "Well, you ask for 15% pay cuts, but I will award you 10%." The judge just rules yes or no on the motion.